MIRA
INFORM REPORT
|
Report Date : |
18.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
CLEARTRIP PRIVATE LIMITED (w.e.f. 28.06.2012) |
|
|
|
|
Formerly Known
As : |
CLEARTRIP TRAVEL SERVICES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Unit No. 001, Ground Floor, DTC Building, Sitaram Mills Compound, N M Joshi
Marg, Mumbai – 400011, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
12.05.2005 |
|
|
|
|
Com. Reg. No.: |
11-153232 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 1784.293 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U63040MH2005PTC153232 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMC13858F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCC6016B |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in the business of providing online travel and
hostel booking services. |
|
|
|
|
No. of Employees
: |
Information denied by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 1000000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject is a subsidiary of “Cleartrip Inc (Mauritius)”. It is an
established company having a moderate track record. There appears huge accumulated losses recorded by the company.
Profitability of the company seems to be under pressure. However, trade relations are reported to be fair. Business is active.
Payments are reported to be slow. The company can be considered for business dealings with some caution.
|
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INDIAN ECONOMIC OVERVIEW
The current downturn
provides an opportunity to push ahead with reforms to accelerate growth, says
the latest India Development Update report released by the World Bank. The
report says that the adverse effects of rupee depreciation are likely to be
offset by the gains in the exports performance due to improved external
competitiveness. Since May this year, the local currency has depreciated
substantially and fell to a record level of Rs 68.85 to a dollar on August, 28.
A stagflation like
situation appears to have arisen as inflation jumped to an eight month high of
6.46 % for the month of September. It is up from 6.10 % in August. Growth
continues to be muted with factory output plunging to 0.6 % in August.
Onion prices have risen nearly 300 % from last September. Vegetables cost
nearly 90 % more than they did last year. Wake up to the economic contribution
of slum dwellers. They contribute more than 7.5 % to the country’s gross
domestic product, according to a recent study conducted in 50 top cities.
136000 estimated
number of jobs created during the second quarter of the current financial year.
50000 estimated number of additional jobs in the field of corporate social
responsibility in the coming years.
The International Finance
Corporation expects to come out with its rupee linked bonds issue before the
end of 2013 as a part of its plan to raise $ 1 billion. The Apple iPhone 5c (Rs
41900 for 16 GB variant) and 5s (Rs 53500 for 16GB variant) has been launched
in India from 1st November.
The Land Acquisition
Act to provide just and fair compensation to farmers will come into force from
January 1 next year, said Rural Development Minister Jairam Ramesh. The Act
replaces a 119 year old registration. The Securities and Exchange Board of
India has approved the trading of currency futures on the Bombay Stock
Exchange. The exchange plans to launch the currency futures platform with
advanced trading technology by the end of November.
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION DENIED BY
|
Name : |
Brijbala and Jernandes |
|
Designation : |
Secretary |
|
Contact No.: |
91-22-40504000 |
|
Date : |
17.12.2013 |
LOCATIONS
|
Registered Office : |
Unit No. 001, Ground Floor, DTC Building, Sitaram Mills Compound, N M
Joshi Marg, Mumbai – 400011, Maharashtra, India |
|
Tel. No.: |
91-22-40504000 |
|
Fax No.: |
91-22-40504050 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on: 05.09.2013
|
Name : |
Mr. Stuart Richard Nairn Crighton |
|
Designation : |
Director and Chief Executive Officer |
|
Address : |
Flat No. 501, |
|
Date of Birth/Age : |
28.02.1970 |
|
Date of Appointment : |
09.12.2005 |
|
PAN No.: |
ACHPC1108L |
|
DIN No.: |
00276524 |
|
|
|
|
Name : |
Mr. Sandeep Murthy |
|
Designation : |
Chairman |
|
Address : |
232, |
|
Date of Birth/Age : |
22.11.1976 |
|
Date of Appointment : |
26.02.2008 |
|
PAN No.: |
ANEPM8465E |
|
DIN No.: |
00591165 |
|
|
|
|
Name : |
Mr. Mohanjit Singh Jolly |
|
Designation : |
Director |
|
Address : |
Villa 100A, Sobha Malachite Jakkur Plantation, Yellakanka, Hobli, |
|
Date of Birth/Age : |
12.11.1969 |
|
Date of Appointment : |
26.02.2008 |
|
DIN No.: |
01816801 |
|
|
|
|
Name : |
Mr. Avnish Sarabjit Bajaj |
|
Designation : |
Director |
|
Address : |
Raheja Sunkist 201, |
|
Date of Birth/Age : |
16.07.1970 |
|
Date of Appointment : |
09.12.2005 |
|
DIN No.: |
00281547 |
|
|
|
|
Name : |
Mr. Sridar Arvamudhan Iyengar |
|
Designation : |
Director |
|
Address : |
85, |
|
Date of Birth/Age : |
13.08.1947 |
|
Date of Appointment : |
28.07.2010 |
|
DIN No.: |
00278512 |
|
|
|
|
Name : |
Mr. Sudhir Singh |
|
Designation : |
Director |
|
Address : |
3614, |
|
Date of Birth/Age : |
12.08.1961 |
|
Date of Appointment : |
26.05.2011 |
|
DIN No.: |
03163769 |
|
|
|
|
Name : |
Mr. John Theodore Torrey |
|
Designation : |
Director |
|
Address : |
221, |
|
Date of Birth/Age : |
31.10.1972 |
|
Date of Appointment : |
26.05.2011 |
|
DIN No.: |
03535384 |
KEY EXECUTIVES
|
Name : |
Mr. Brijbala Mohanlal Batwal |
|
Designation : |
Secretary |
|
Address : |
B 1, 602, Building No. 10, Durga Sadan, CHS, Tilak Nagar, Chembur,
Mumbai-400089, |
|
Date of Birth/Age : |
01.10.1975 |
|
Date of Appointment : |
01.12.2010 |
|
Pan No.: |
AFGPP7738B |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 05.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Cleartrip INC, |
|
1 |
|
Cleartrip INC, |
|
178429319 |
|
|
|
|
|
Total |
|
178429320 |
As on: 26.03.2013
|
Names of Allottee |
|
No. of Shares
Allotted |
|
Cleartrip INC, Mauritius |
|
3677000 |
|
Total |
|
3677000 |
Equity Share Break up (Percentage of Total Equity)
As on: 05.09.2013
|
Category |
|
Percentage |
|
|
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
100.00 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of providing online travel and
hostel booking services. |
||||||||
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|
|
||||||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Information denied by the management. |
|||||||||||||||
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|
|
|||||||||||||||
|
Bankers : |
· Kotak Mahindra Bank Limited, 36-38a, Nariman Bhavan, 227,D, Nariman Point,, Mumbai - 400021, Maharashtra, India · Allahabad Bank, 35-41, Hotel Hiramani Compound, Dr. Ambedkar Road, Parel, Mumbai-400012, Maharashtra, India |
|||||||||||||||
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|
|
|||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
BSR and Company Chartered Accountants |
|
Address : |
Lodha Excelus, 1st Floor, Apollo Mills Compound, N.M.
Joshi Marg, Mahalakshmi, Mumbai - 400 0011, Maharashtra, |
|
Tel. No.: |
91-22-39896000 |
|
Fax No.: |
91-22-39836000 |
|
PAN No.: |
AAIFB0630K |
|
|
|
|
Holding Company: |
Cleartrip INC, |
|
|
|
|
Ultimate Holding Company: |
Cleartrip Inc, |
|
|
|
|
Fellow subsidiary: |
ClearTrip MEA FZ LLC |
|
|
|
|
Entity over which key management personnel exercise significant influence
Affiliate : |
Sherpalo India Advisors Private Limited |
CAPITAL STRUCTURE
After: 05.09.2013
Authorised Capital : Rs.2000.000
Millions
Issued, Subscribed & Paid-up Capital : Rs.1932.463 Millions
As on: 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
200000000 |
Equity Shares |
Rs.10/- each |
Rs.2000.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
178429320 |
Equity Shares |
Rs.10/- each |
Rs.1784.293
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
|
31.03.2013 |
31.03.2012 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
1784.293 |
1384.878 |
|
(b) Reserves & Surplus |
|
(1514.796) |
(1336.472) |
|
(c) Money received
against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share
Application money pending allotment |
|
0.000 |
254.172 |
|
Total Shareholders’ Funds (1) + (2) |
|
269.497 |
302.578 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term
borrowings |
|
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long
term liabilities |
|
105.345 |
77.921 |
|
(d) long-term
provisions |
|
21.993 |
12.519 |
|
Total Non-current
Liabilities (3) |
|
127.338 |
90.440 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
|
269.296 |
0.000 |
|
(b)
Trade payables |
|
503.115 |
427.156 |
|
(c)
Other current liabilities |
|
506.077 |
185.908 |
|
(d) Short-term
provisions |
|
9.034 |
3.449 |
|
Total Current
Liabilities (4) |
|
1287.522 |
616.513 |
|
|
|
|
|
|
TOTAL |
|
1684.357 |
1009.531 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
72.745 |
58.467 |
|
(ii)
Intangible Assets |
|
172.182 |
112.281 |
|
(iii)
Capital work-in-progress |
|
0.000 |
0.242 |
|
(iv) Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current
Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets
(net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
168.987 |
190.493 |
|
(e) Other
Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current
Assets |
|
413.914 |
361.483 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
0.000 |
0.000 |
|
(c)
Trade receivables |
|
126.883 |
91.854 |
|
(d) Cash
and cash equivalents |
|
425.705 |
171.270 |
|
(e)
Short-term loans and advances |
|
717.216 |
384.661 |
|
(f)
Other current assets |
|
0.639 |
0.263 |
|
Total
Current Assets |
|
1270.443 |
648.048 |
|
|
|
|
|
|
TOTAL |
|
1684.357 |
1009.531 |
|
SOURCES OF FUNDS |
|
|
31.03.2011 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
1240.795 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
0.000 |
|
|
4] (Accumulated Losses) |
|
|
(1081.216) |
|
|
NETWORTH |
|
|
159.579 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
308.599 |
|
|
2] Unsecured Loans |
|
|
0.000 |
|
|
TOTAL BORROWING |
|
|
308.599 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
468.178 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
137.452 |
|
|
Capital work-in-progress |
|
|
7.025 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
0.000 |
|
|
Sundry Debtors |
|
|
120.982 |
|
|
Cash & Bank Balances |
|
|
326.613 |
|
|
Other Current Assets |
|
|
0.428 |
|
|
Loans & Advances |
|
|
309.982 |
|
Total
Current Assets |
|
|
758.005 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
350.057 |
|
|
Other Current Liabilities |
|
|
77.945 |
|
|
Provisions |
|
|
6.302 |
|
Total
Current Liabilities |
|
|
434.304 |
|
|
Net Current Assets |
|
|
323.701 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
468.178 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
|
|
|
|
|
|
Income (Revenue for Commission and others) |
|
|
864.800 |
|
|
|
Other Income |
|
|
65.960 |
|
|
|
Less: Discount |
|
|
158.930 |
|
|
|
TOTAL (GROSS REVENUE) (A) |
|
|
771.830 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
1100.350 |
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
|
|
1100.350 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
NA |
NA |
(328.520) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
|
9.260 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
|
(337.780) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
|
56.550 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
|
|
(394.330) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
|
|
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
|
(512.699) |
(394.330) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
NA |
(1183.820) |
(789.490) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
NA |
NA |
(1183.820) |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
NA |
(3.70) |
(3.17) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
NA |
NA |
(51.10) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA |
NA |
(45.60) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA |
NA |
(44.03) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA |
NA |
(2.47) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.99 |
0.000 |
1.93 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.99 |
1.05 |
1.75 |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG-TERM DEBT DETAILS: NOT AVAILABLE
|
Sr. No. |
Check List by Info
Agents |
Available in Report
(Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact person |
Yes |
|
11] |
Turnover of firm for last one year |
Yes |
|
12] |
Profitability for last two years |
Yes |
|
13] |
Reasons for variation <> 20% |
-- |
|
14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm / promoter involved in |
Yes |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
Yes |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
CASE DETAILS
|
Lodging No:- |
CHSL/10/2013 |
Filing Date:- |
05/01/2013 |
Reg. No.:- |
CHS/140/2013 |
Reg. Date:- |
14/02/2013 |
|
Lodging No:- |
SL/2632/2011 |
Reg. No.:- |
S/2475/2011 |
|
Petitioner:- |
Desiya Online Travel Distribution Private |
Respondent:- |
Cleartrip Travel Services Private Limited |
|
Petn.Adv.:- |
J Sagar Associates (0) |
|
|
|
District:- |
MUMBAI |
|
|
|
Bench:- |
SINGLE |
|
|
|
Status:- |
Pre-Admission |
Category:- |
Chamber Summons. |
|
Next Date: |
24/12/2013 |
Stage:- |
Notice of Motion for Hearing (Original Side Matters) |
|
Coram:- |
Provisional Board |
|
|
|
Act :- |
Code of Civil Procedure 1908 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10396191 |
21/12/2012 |
200,000,000.00 |
KOTAK MAHINDRA BANK LIMITED |
36-38A, NARIMAN BHAVAN, 227,D, NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA |
B65601502 |
|
2 |
10283921 |
20/04/2011 |
150,000,000.00 |
ALLAHABAD BANK |
35-41, HOTEL HIRAMANI COMPOUND, DR. AMBEDKAR ROAD, PAREL, MUMBAI, MAHARASHTRA - 400012, INDIA |
B11172582 |
|
3 |
10258430 |
26/11/2010 |
200,000,000.00 |
AXIS BANK LIMITED |
JEEVAN PRAKASH BUILDING, SIR P M ROAD , FORT, MUMBAI, MAHARASHTRA - 400001, INDIA |
B01317940 |
FIXED ASSETS:
- Computers
- Furniture and
Fixture
- Office
Equipments
- Motor Car
- Leasehold
Improvements
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper payments
to government officials for engaging in prohibited transactions or with
designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l Anti-Money
Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws, regulations
or policies that prohibit, restrict or otherwise affect the terms and
conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 61.96 |
|
|
1 |
Rs. 101.14 |
|
Euro |
1 |
Rs. 85.33 |
INFORMATION DETAILS
|
Information
Gathered by : |
HTL |
|
|
|
|
Report Prepared
by : |
DPH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
- |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
26 |
This score serves as a reference to assess SC’s credit risk and
to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound
financial base with the strongest capability for timely payment of interest
and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate
working capital. No caution needed for credit transaction. It has above
average (strong) capability for payment of interest and principal sums |
Large |
|
56-70 |
A |
Financial &
operational base are regarded healthy. General unfavourable factors will not
cause fatal effect. Satisfactory capability for payment of interest and
principal sums |
Fairly
Large |
|
41-55 |
Ba |
Overall operation is
considered normal. Capable to meet normal commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome
financial difficulties seems comparatively below average. |
Small |
|
11-25 |
Ca |
Adverse factors are
apparent. Repayment of interest and principal sums in default or expected to
be in default upon maturity |
Limited
with full security |
|
<10 |
C |
Absolute credit risk
exists. Caution needed to be exercised |
Credit
not recommended |
|
-- |
NB |
New Business |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.